The S&P/ASX 200 (ASX: XJO) and All Ordinaries (INDEXASX: XAO) finished another 0.6% higher on Wednesday, reaching the highest point since February last year but still some way off the all-time high of 7,199 points. The ASX 200 price currently sits at 6,928.
ASX 200 share price
Once again it was the energy and materials sectors boosting the market as a flood of more positive economic news from car sales to infrastructure spending and IMF growth upgrades force investors into the market.
The energy sector finished 1.4% higher with Origin Energy (ASX: ORG) leading the way, with the ORG share price rising 2.4%, as a key beneficiary of a return to normal operating conditions and most importantly the flow-through of higher electricity prices.
The lithium sector has begun to recover after some profit-taking, boosted by Biden’s ongoing rhetoric around the ‘green infrastructure revolution’. The Pilbara Minerals (ASX: PLS) share price added 6.4% alone.
The building products sector was meaningfully lower, led by the AdBri (ASX: ABC) share price was down 5% amid reports that a lack of skilled labour is impacting on the ability for tradies to deliver on the Home Builder credits offered by the government.